Turtle Nest: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Turtle Nest
Largest movements
- Cash +€21,684
up €21,684 (+59.9%), from €36,204 to €57,888
mainly Net result for the year (+€23,324) and Trade debts (+€2,203)
- Receivables within one year +€4,289
up €4,289 (+35.8%), from €11,979 to €16,268
of which Other amounts receivable: +€3,333
- Profit (loss) carried forward +€23,324
up €23,324 (+77.6%), from €30,047 to €53,370
- Trade debts +€2,203
up €2,203 (+2196.7%), from €100 to €2,303
- Gross operating margin -€10,718
down €10,718 (-25.7%), from €41,737 to €31,019
- Taxes -€4,082
down €4,082 (-38.0%), from €10,749 to €6,667
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,119 | €74,624 | +€25,505 | +51.9% |
| Fixed assets | 21/28 | €936 | €468 | -€468 | -50.0% |
| Tangible fixed assets | 22/27 | €936 | €468 | -€468 | -50.0% |
| Furniture and vehicles | 24 | €936 | €468 | -€468 | -50.0% |
| Current assets | 29/58 | €48,183 | €74,156 | +€25,973 | +53.9% |
| Amounts receivable within one year | 40/41 | €11,979 | €16,268 | +€4,289 | +35.8% |
| Trade receivables | 40 | €11,979 | €12,935 | +€956 | +8.0% |
| Other amounts receivable | 41 | - | €3,333 | +€3,333 | |
| Cash at bank and in hand | 54/58 | €36,204 | €57,888 | +€21,684 | +59.9% |
| Total equity and liabilities | 10/49 | €49,119 | €74,624 | +€25,505 | +51.9% |
| Equity | 10/15 | €33,047 | €56,370 | +€23,324 | +70.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,047 | €53,370 | +€23,324 | +77.6% |
| Amounts payable | 17/49 | €16,072 | €18,254 | +€2,182 | +13.6% |
| Amounts payable within one year | 42/48 | €16,072 | €18,254 | +€2,182 | +13.6% |
| Trade debts | 44 | €100 | €2,303 | +€2,203 | +2196.7% |
| Suppliers | 440/4 | €100 | €2,303 | +€2,203 | +2196.7% |
| Taxes, remuneration and social security | 45 | €15,972 | €15,950 | -€21 | -0.1% |
| Taxes | 450/3 | €15,972 | €15,950 | -€21 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €468 | €468 | +€0 | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €41,737 | €31,019 | -€10,718 | -25.7% |
| Operating profit (loss) | 9901 | €40,882 | €30,152 | -€10,730 | -26.2% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €87 | €178 | +€91 | +105.2% |
| Recurring financial charges | 65 | €87 | €178 | +€91 | +105.2% |
| Profit (loss) for the period before taxes | 9903 | €40,795 | €29,991 | -€10,804 | -26.5% |
| Income taxes | 67/77 | €10,749 | €6,667 | -€4,082 | -38.0% |
| Profit (loss) for the period | 9904 | €30,047 | €23,324 | -€6,723 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,047 | €23,324 | -€6,723 | -22.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.